Do you remember "Occupy Wall Street"? Do you remember how Krugman suggested that OWS would prove a "turning point" in a populist war against American financial institutions? Is there anyone more delusional than this Nobelist?

"Have you heard about 'libertarian populism' yet? If not, you will. It will surely be touted all over the airwaves and the opinion pages by the same kind of people who assured you, a few years ago, that Representative Paul Ryan was the very model of a Serious, Honest Conservative. So let me make a helpful public service announcement: It’s bunk.

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Enter libertarian populism. The idea here is that there exists a pool of disaffected working-class white voters who failed to turn out last year but can be mobilized again with the right kind of conservative economic program — and that this remobilization can restore the Republican Party’s electoral fortunes."

Had I ever before heard about "libertarian populism"? No.

Do I care if "libertarian populism" can restore the Republican Party’s electoral fortunes? No.

Beset with scandals, economic malaise that does not want to go away, signature legislation that is earmarked for disaster, and pressing overseas challenges demanding weighty decisions, Obama has gone into hiding. No, Obama may be a narcissist, but he is not delusional. Meanwhile, Washington has become dysfunctional.